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  • #421,581
  • Apr 14, 2011 8:34am Apr 14, 2011 8:34am
Quoting ForexTreeGuy
watching what happens 1.4394 but I'm done for today -- have notes to take. Mentors are hard to find i had better take advantage when i get the info

It is good to see you made money on that move, it would be useless unless you learned something from it, I can't be trading for you every day, and don't really want to as it does not pay the bills.
  • #421,582
  • Apr 14, 2011 8:38am Apr 14, 2011 8:38am
The Bulls this week had signs of a wake up call. Easy victory over the Bears all year, had let many in the team to thnk that they could just turn up and win. The bears have drawn their defenses up well just over the 1.45 line and are making a defiant statement that" none shall pass". And the last two matchups have shown that they are growing in their own self belief. It looks as thou the bulls will have to strike back fast and hard before the realise that they are really match winners.
  • #421,583
  • Apr 14, 2011 8:45am Apr 14, 2011 8:45am
OIL CHARGING AGAIN...
Keep It Simple Stupid
  • #421,584
  • Apr 14, 2011 8:45am Apr 14, 2011 8:45am
im telling you, this thing is going to rise until after the fix... 1h 15m left...
  • #421,585
  • Apr 14, 2011 8:46am Apr 14, 2011 8:46am
Quoting cloggie
Oops, time to cover Treeguy. Intermediate top is forming here. Now try to figure out why I know that.

Intermediate top tested again, find your range and play your break. Hope you didn't jump on that M5 red bar for a short without confrimation. No shorts in play yet, unless you are looking for 5 pips or so, not my kind of reward for the risk involved.

For people keeping an eye on correlated markets, metals/oils up, equities down. disjointed correlation based on risk aversion in US based on PPI coupled with flight to safety in Gold and EU risk appetite in indices and Brent, draggin Oil back up. What that means for this pair right now is a range forming, watch the DOW and es to judge dollar, watch DAX, XAU, Ftse to judge the euro half fo the pair.

Tech traders, draw a box, find the range, look for a momentum bar, mind the fakeout and trade the break.
  • #421,586
  • Apr 14, 2011 8:46am Apr 14, 2011 8:46am
looking for 1.4450....
  • #421,587
  • Apr 14, 2011 8:47am Apr 14, 2011 8:47am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting fldash
im telling you, this thing is going to rise until after the fix... 1h 15m left...
We'll see - watch 1.4442.
  • #421,588
  • Apr 14, 2011 8:47am Apr 14, 2011 8:47am
Quoting cloggie
The only fib I use is the 50, which isn't really a fib. EU loves the 50. (hint), now I just gave the answer to the question I posted to Treeguy.

The only other times I use fibs are for flags, as both bear and bull flags are very fib sensitive, I also keep fibs handy on wedge breaks as again the 50 extension is always a good intermediate target with the 38.2 forming the momentum fib.
Ohh, I love the 50%, In-fact in my supply and demand zones, my targets are 50% of the zone. When I'm swing trading as well, I will only allow a move no more than 50% against the previous days candle.
  • #421,589
  • Apr 14, 2011 8:48am Apr 14, 2011 8:48am
again coming for me to reload short, giving me confirmation. hedge on 1.4439 to 1.4456 and sl at 1.4475
  • #421,590
  • Apr 14, 2011 8:52am Apr 14, 2011 8:52am
Quoting cloggie
Intermediate top tested again, find your range and play your break. Hope you didn't jump on that M5 red bar for a short without confrimation. No shorts in play yet, unless you are looking for 5 pips or so, not my kind of reward for the risk involved.

For people keeping an eye on correlated markets, metals/oils up, equities down. disjointed correlation based on risk aversion in US based on PPI coupled with flight to safety in Gold and EU risk appetite in indices and Brent, draggin Oil back up. What that means for this pair right now is a range forming,...
hi cloggie, when do you think we'll start getting more volatile and the daily range starts getting bigger? usually forms a new trend around this time
  • #421,591
  • Apr 14, 2011 8:53am Apr 14, 2011 8:53am
Quoting Azinvg
again coming for me to reload short, giving me confirmation. hedge on 1.4439 to 1.4456 and sl at 1.4475
How do you mean the hedge? Pending order?
  • #421,592
  • Apr 14, 2011 8:54am Apr 14, 2011 8:54am
Quoting Azinvg
again coming for me to reload short, giving me confirmation. hedge on 1.4439 to 1.4456 and sl at 1.4475

Hedge? what instrument are you hedging, or do you mean you fecked up and are not so sure so you entered 2 trades in the opposite direction on the same pair? That is not hedging that is being scared to admit you are wrong and are trying to make up for your lack of trading skills.

Open an opposite trade in the same instrument while working on any floor and it is time for tea and biccies and you'd better have an updated CV to hand.

Admitting you are wrong is the hardest thing to do, the more often you do it however, the easier and more profitable it becomes. Admitting you are wrong will make you a better trader, entering opposing trades on the same pair, just means you are too weak to admit your mistakes.
  • #421,593
  • Apr 14, 2011 8:55am Apr 14, 2011 8:55am
A break back above 1.4460 is a warning of bullish continuation, and a break above 1.4490 should confirm it. The bullish outlook is 1.4575, then in the intermediate term (in a couple of weeks), the 1.5140 pivot.
On the downside, a break below 1.4250-1.4280 support zone would be a clue to a strong correction.
In the near-term, if the pullback fails to break above 1.4460, and the makret comes back down to close below 1.4350, look for the market to go to the 1.4250-1.4280 support zone me thinks

Seb
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  • #421,594
  • Apr 14, 2011 8:55am Apr 14, 2011 8:55am
Hi All

I am new to this forum, I have reading your posts this week with interest I have learnt a lot about the basics I thought I already knew. Looks like I have to have it hammered in time and time again. Particularly :- 'Trade what you see not what you think' and 'Never try to pick tops or bottoms' you have hammered home the point very well. Correlated markets was a bit of an eyeopener, I knew about it but never took much notice( Thanks Cloggie, you tell it how it is and it is much appreciated), I'll try and post my ideas and analysis as from next week to give as well as take Thanks all
  • #421,595
  • Apr 14, 2011 8:56am Apr 14, 2011 8:56am
What time frame do you find it most effective on Cloggie?


Quoting cloggie
The only fib I use is the 50, which isn't really a fib. EU loves the 50. (hint), now I just gave the answer to the question I posted to Treeguy.

The only other times I use fibs are for flags, as both bear and bull flags are very fib sensitive, I also keep fibs handy on wedge breaks as again the 50 extension is always a good intermediate target with the 38.2 forming the momentum fib.
  • #421,596
  • Apr 14, 2011 8:58am Apr 14, 2011 8:58am
Quoting gman29
What time frame do you find it most effective on Cloggie?

Any of them.
  • #421,597
  • Apr 14, 2011 8:58am Apr 14, 2011 8:58am
box is broken but we still have 1.4444 with a lot of meaning, including 200ema on 5m
  • #421,598
  • Apr 14, 2011 8:59am Apr 14, 2011 8:59am
Quoting fldash
box is broken but we still have 1.4444 with a lot of meaning, including 200ema on 5m

IF you are going to use an EMA, try the 267 W/C on the 5. AS to range breaks, only a momentum break is a valid signal, every other one is a fake 'n shake first.
  • #421,599
  • Apr 14, 2011 9:00am Apr 14, 2011 9:00am
oh i have it marked too, you said that a week or so ago
  • #421,600
  • Apr 14, 2011 9:00am Apr 14, 2011 9:00am
Will put that in the toolbox for sure.
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